I am still not sure if OP is asking about the cosmetic appearance of the hamon itself or about how the hamon affects performance...
So I'll answer both. Answer to the first is above. Answer to the second: the hamon looks pretty, but it serves a real purpose... rather, the differential heat treat that causes it serves a real purpose. It was invented for a very good reason. Swords used in battle in feudal Japan were coming back broken due to a brittle heat treat, and so the sword makers were ordered to find a solution. Enter differential heat treating, coating the spine of the blade and the edge with different thicknesses of clay, causing the spine and edge to cool and harden differently when quenched (which also causes the Katana to curve). The combination of softer spine and hard edge allowed the same cutting performance with much greater toughness.
But to be honest, on a small knife that doesn't even really matter. The blade is probably never going to be under the kind of stress a sword will be under (especially in battle), and a knife can be made much harder. I think I read somewhere that European swords in feudal times were only hardened to 40-50Rc to make them very tough (since they didn't discover differential heat treatment).
As for your knife, if it has a beautiful hamon that is very active with lots of clearly distinct activity and swirls that just "pop," then I'd say don't use it. That's art and you would ruin it. There are millions of knives that are more appropriate for use. But then again, do whatever you want with your knives; they are yours.

Get a real pre-Meiji period Japanese katana by a famous smith... and use it to make fuzz sticks and cut cheese and sausage, for example.
